San Group Files for Creditor Protection, Company Monitored by Court

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Business समाचार

San Group,Creditor Protection,Sawmills

The San Group, facing creditor claims totaling over $100 million and a log shortage, has filed for creditor protection and laid off employees. A court-appointed monitor is overseeing the company's restructuring, with the goal of a court-supervised sale process.

A court-appointed monitor is overseeing the San Group of companies after the Langley-based firm filed for creditor protection. The San Group, which runs two sawmills and a remanufacturing plant in Port Alberni, has laid off employees and reduced operations due to a shortage of logs, with creditors claiming to be owed more than $100 million. The city of Port Alberni has activated a community transition team to support affected workers. Deloitte Restructuring Inc.

was appointed monitor, and the company aims to seek approval for a court-supervised sale process

हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

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